RYAN SPECIALTY UNIT FORMS UNDERWRITING PARTNERSHIP WITH LLOYD’S

The ThinkRisk Underwriting Agency unit of US broking and underwriting management firm Ryan Specialty Group has formed an underwriting partnership with certain Lloyd’s underwriters that it says will expand its underwriting appetite, increase available capacity, and expand and enhance coverage under its Converging Risk programme. With the agreement, ThinkRisk will transfer the Converging Risk Programme - which offers errors and omissions cover for US media, advertising, technology, privacy and network security risks – from Aspen US Insurance to the Lloyd’s underwriters. The enhanced Converging Risk programme will now offer cover to companies with up to $1bn in annual revenues, launch cyber crime cover and offer primary policy limits of up to $10m (with up to $5m limits for additional first-party data-privacy expenses).